Shaktikanta Das, the Governor of the Reserve Bank of India, highlighted the unavoidable shift to digital currency at a G30 seminar. He focused on central bank digital currencies (CBDCs) for international payments and stressed the need for countries to work together to make money transfers more efficient and secure while considering the risks that come with CBDCs.
Great news for JM Financial Products. The Reserve Bank of India (RBI) has finally lifted the restrictions that were holding them back. This decision is a big relief for the company and its clients, opening up new opportunities in the financial market.
RBI Governor Shaktikanta Das is sounding the alarm that some non-banking finance companies (NBFCs) are all about fast growth but aren't thinking about sustainability. This could stir up financial trouble, especially with high interest rates and fees flying around. Das is all for better risk management and compliance in NBFCs to keep things steady in the long run.
As of October 2023, the Reserve Bank of India says that 98% of the Rs 2,000 notes have been returned since they announced they were pulling them from circulation back in May. The total value of these notes has dropped from Rs 3.56 lakh crore to just Rs 7,117 crore.